Equinor Takes $1 Bn Hit From US Wind Farm Regulations, Tariffs

US President Donald Trump has repeatedly expressed opposition to wind energy -- claiming turbines are unsightly and dangerous -- and signed a series of executive orders targeting the sector shortly after returning to the White House in January (Credit: AFP)

Norwegian energy company Equinor said on Wednesday that its giant offshore wind project in New York -- once halted by the US administration -- had lost nearly $1bn in value following regulatory changes and tariffs.

Equinor chief executive Anders Opedal said the company's net operating income had been hit by a $955 million impairment related to its Empire Wind project "due to regulatory changes" affecting synergies in future offshore wind farms, as well as "increased exposure to tariffs".